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Sunday, March 3, 2024

BMG acquires Paul Simon royalty streams from Simon & Garfunkel recordings in ‘significant transaction’

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One of many world’s largest ever music catalog acquisition offers came about two years in the past, when legendary songwriter Paul Simon bought his music publishing catalog to Sony for a worth believed to be within the area of USD $250 million-plus.

Immediately (June 22), we be taught that Simon has bought different helpful property associated to his catalog to BMG, for an undisclosed sum.

BMG has acquired Simon’s artist royalty revenue stream – along with his neighboring rights revenue stream – from Simon & Garfunkel recordings (not together with Simon’s solo work).

In different phrases: BMG can be paid Simon’s artist royalty share every time Simon & Garfunkel’s traditional recordings – which proceed to be owned by Columbia/Sony Music – are streamed or bought.

BMG may even, in future, be paid cash beforehand paid to Simon when Simon & Garfunkel’s recordings are broadcast on TV or radio, or performed in public areas, around the globe (aka: neighboring rights).

Simon & Garfunkel’s evergreen tracks embrace the likes of ‘The Sound Of Silence’, ‘The Boxer’, ‘Mrs Robinson’ and ‘Bridge Over Troubled Water’.

Their traditional albums together with Wednesday Morning, 3AM (1964), Sounds Of Silence (1966), Parsley, Sage, Rosemary & Thyme (1966), Bookends (1968) and Bridge Over Troubled Water (1970).

BMG’s incoming CEO, Thomas Coesfeld, stated, “We’re delighted to have secured the settlement of Paul Simon for BMG to accumulate his royalty pursuits in Simon & Garfunkel recordings and his neighboring rights revenue.

“This can be a important transaction. Our means to safe this deal demonstrates as soon as once more that BMG supplies the perfect residence for the best artists.”

Thomas Scherer, BMG’s President, Repertoire & Advertising and marketing, Los Angeles and New York, stated, “In any checklist of the true greats, Paul Simon stands as one of many pillars of well-liked music historical past.

“We’ll play our half to make sure his music continues to be honored and revered.”

Paul Simon was represented within the BMG transaction by Gene Salomon and Don Passman at Gang, Tyre, Ramer, Brown & Passman.

“This can be a important transaction. Our means to safe this deal demonstrates as soon as once more that BMG supplies the perfect residence for the best artists.”

Thomas Coesfeld, BMG

The character of the property acquired by BMG in Simon’s recordings (as Simon & Garfunkel) bears some similarity to the property that BMG beforehand acquired from Mick Fleetwood, in a 2021 deal that lined Fleetwood’s royalty revenue stream for his hits in Fleetwood Mac.

In the identical 12 months, BMG acquired each the artist royalty revenue stream and the neighboring rights revenue stream of the now-sadly-departed Tina Turner, in a deal that moreover included Turner’s music publishing author’s share plus her title, picture, and likeness.

In 2022, BMG concluded greater than 45 music rights/asset acquisitions. The agency spent USD $400 million on music rights M&A in that calendar 12 months – greater than Common Music Group spent on catalog acquisitions in the identical interval.

In 2023 to this point, BMG’s offers have included its acquisition of the recordings catalog of The Hollies.

Due to different offers over the previous two years, BMG owns rights and/or royalties within the work of different artists and/or songwriters together with John Legend, Mötley Crüe, ZZ High, Peter Frampton, Harry Nilsson, John Lee Hooker, Easy Minds, Primal Scream, and Jean-Michel Jarre.Music Enterprise Worldwide

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